: Rishi Sunak: ‘We will not pursue any relationship with Europe that relies on alignment with EU laws’

by | Nov 21, 2022 | Stock Market

The U.K.’s prime minister Rishi Sunak has quashed a report claiming that his government was pursuing a Swiss-style post-Brexit agreement with the European Union. Speaking at the Confederation of British Industry conference in Birmingham, England on Monday, Sunak brushed off a report by The Sunday Times which said he was seeking a closer relationship with the EU and had been reportedly looking at an agreement similar to that of Switzerland’s as one example, enraging Euroskeptics in Parliament in the process.

Switzerland sits outside of the EU and enjoys access to the trading bloc’s single market, but in return it pays into the EU budget, emulates EU laws and allows freedom of movement. Its relations with the EU are covered by more than 100 bilateral agreements. “On trade, let me be unequivocal about this. Under my leadership, the United Kingdom will not pursue any relationship with Europe that relies on alignment with EU laws,” Sunak told delegates at the conference during a Q&A session. Senior figures told the Sunday Times that Sunak’s government was considering putting an agreement together similar to Switzerland’s deal but without freedom of movement but has now rejected the idea after a trail of Euroskeptic Conservative MPs warned against the move. The yield on the 10-year gilt
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was up by 2.8 …

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